InCred Financial Services receives first ESG …

InCred Financial Services receives first ESG rating from ICRA arm

ICRA ESG Ratings Ltd (ICRA ESG), a subsidiary of ICRA Ltd, has introduced its first Environmental, Social, and Governance (ESG) rating for InCred Financial Services Ltd, a Non-Banking Financial Company (NBFC) specializing in personal, student, and business loans. The company has been given an ESG Impact rating of Impact 57, Moderate, which falls within the range of 40 to 59. This rating signifies a moderate commitment to ESG principles and indicates that InCred Financial Services Ltd has not yet fully implemented comprehensive sustainability practices. The ESG-assigned ratings by ICRA ESG are designed to assist investors in evaluating non-financial risks and opportunities associated with entities, ultimately aiding them in making more informed investment decisions. This initiative aims to foster a more sustainable and responsible investment landscape. Furthermore, these ratings also provide valuable insights to the rated entity, such as Incred Financial Services Ltd, by helping them better understand and diagnose their ESG impact. This understanding enables the company to plan and execute future sustainability actions more effectively. In summary, ICRA ESG has assigned its first ESG rating to InCred Financial Services Ltd, marking a step towards a more sustainable and responsible investment environment. The Impact 57, Moderate rating indicates a moderate commitment to ESG principles, with the agency emphasizing the importance of these ratings in guiding investment decisions and enhancing the rated entity s understanding of its ESG impact.

Source: thehindubusinessline.com
Published on 2024-09-14

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